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Monday, May 10, 2010

CCME - Q1 Blow Out Earnings

Today CCME released a filing that previewed their net income for Q1 2010. They said it will be approximately $18m. In Q1 2009 they did approximately $7m. This is an unheard of 150%+ net income growth. EPS should come in close to $0.50 for Q1 which is their weakest quarter. Q4 is typically their strongest quarter and they did a record $14m net income in Q4 2009. This company is the most undervalued, hyper-growth, cash rich company that I see out there. They should easily do over $2 EPS in 2010 by my estimations. The company trades at a P/E in the 5's. They have 150% net income growth, margins in the 60-70% range, $100m cash in the bank, strong cash flow generation, and an exclusive contract in their industry. FMCN trades at approximately a 20 P/E and is in the same space. Companies with CCME's characteristics usually get a high multiple. A 20 multiple for CCME would make it a $40 stock. I have called some big winners in the past, EFUT $11 to $50, PDO $5 to $45, and RINO $7 to $30 , to name a few, yet none of them had the growth numbers like CCME. I do not see numbers like this very often. It is a matter of time before Wall Street notices this gem and it rockets to a proper valuation. I believe CCME is due to report by this Monday, May 17th.

We anticipate a significant change in our results of operations from the corresponding period in the last fiscal year due to our former status as a shell company. Based on currently available information, we anticipate reporting net income of approximately $18 million for the quarter ended March 31, 2010, before making any adjustments for the accounting of the preferred shares that we previously issued for the quarter ended March 31, 2010.

Read Filing


Sasha said...

I`ve been subscribing to this post for some time now, and am also new to stockmarket. On which market is CCME traded? And what is its current pricing?

jfh86 said...

Hey Sasha. CCME trades on the AMEX at around $12.85, the stock's having a nice day today. AMEX has less strict listing standards than other bourses, probably one of the factors why CCME is has remained undervalued relative to peers.

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